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Padel is one of those sports that’s been gaining quite a bit of traction lately. If you’re new to the game or just curious about getting started, one of the first things you’ll need is a good padel racket. Let’s dive into what makes a padel racket tick and how to choose one that fits …
Bitlauncher has unveiled a groundbreaking investment platform aimed at democratizing access to early-stage AI startups. This innovative platform is designed to offer investors the opportunity to engage with promising AI ventures that have the potential to become the next billion-dollar companies. Transforming the Investment Landscape At the core of Bitlauncher’s approach is the implementation of …
“Our objective is simple: to get passenger rail back up and running in the quickest possible way” says Roberto Quintas
Financial inclusion remains a key issue in South Africa, and promoting real inclusion is critical in enabling more people to improve their quality of life, says Simphiwe Phakathi, Executive Head of Sales and Distribution at EasyPay Everywhere. Financial exclusion is associated globally with persistent poverty. “At its most basic, the issue is that so many …
UN Secretary General António Guterres appointed (https://apo-opa.co/3WNr7Cg) a panel dedicated to developing a framework that ensures equity, transparency, sustainability and human rights among critical mineral extraction activities, in April 2024. Uniting government and industry stakeholders, the panel aims to encourage developing countries, including those in Africa – which holds over half of the world's cobalt and manganese reserves and over one-fifth of aluminum and copper reserves – to leverage its critical minerals for enhanced job creation, economic diversification and export revenues.
Reflecting similar priorities, the Critical Minerals Africa (CMA) summit — scheduled for November 6-7 in Cape Town — will host an Industry Leader Forum to explore strategies for ensuring sustainable mineral production and navigating external factors like geopolitical risk, digital transformation and the energy transition. It will also address recent high-level initiatives – from the African Green Minerals Strategy to the global Minerals Security Partnership – and their role in shaping best practices for building resilient mineral supply chains.
Initiated in 2022 by the African Development Bank, the African Green Minerals Strategy (AGMS) (https://apo-opa.co/3y8dZy4) serves as a comprehensive framework for leveraging the continent's mineral resources for industrialization and the development of green technologies. The AGMS aims to articulate Africa's interests in a rapidly changing world, build and retain local value, create jobs, develop new industries, and foster greener economies, as global demand for transition minerals rises.
Meanwhile, the US-led Minerals Security Partnership (MSP) (https://apo-opa.co/3YpZf87) represents a collaborative effort among 14 countries and the European Union to bolster investment in responsible critical minerals supply chains. Through partnerships with governments and industries, the MSP provides support for strategic projects, particularly focusing on lithium, cobalt, nickel, manganese, graphite, rare earth elements and copper. Given Africa's abundant mineral reserves, collaboration with the MSP is particularly relevant for the continent, enabling responsible mineral extraction and supporting local communities and economies, while advancing global clean energy goals.
In February 2023, MSP partners gathered in South Africa to establish guiding principles for global project development, emphasizing local value addition and maintaining sustainability and ESG standards. Representatives from mineral-rich nations, including non-MSP countries like Angola, Botswana, the Democratic Republic of the Congo (DRC), Tanzania, Uganda and Zambia, joined the discussions. The meeting sought to ensure that the growth of critical minerals supply chains benefits all stakeholders equitably, underlining the MSP's commitment to responsible mineral extraction and sustainable development.
Furthering efforts to ensure a steady and sustainable supply of CRMs, the EU launched its Critical Raw Materials (CRM) Act in March 2023, as European demand for rare earth metals is expected to increase six-fold by 2030. As part of this initiative, the EU has engaged with several African countries including the DRC, Zambia, Rwanda and Namibia through various MOUs. These agreements aim to foster collaboration within integrating sustainable raw materials value chains, mobilizing funds for infrastructure development, promoting sustainable and responsible production practices, encouraging research and innovation and enhancing capacity building efforts.
Within this context, the Industry Leaders Forum: Driving Innovative Minerals Production at CMA 2024 will explore key trends within the African and global critical minerals landscape. Leaders will discuss how initiatives like the AGMS, MSP and European CRM Act will shape the future of sustainable mineral production and global supply chains.
CMA is the largest gathering of critical mineral stakeholders in Africa. Taking place from November 6 – 7 in Cape Town, the event positions Africa as the primary investment destination for critical minerals. This year's edition takes place under the theme Innovate, Enact, Invest in African Critical Minerals to Sustain Global Growth, connecting African mining projects and regulators with global investors and stakeholders to untap the full potential of the continent's raw materials. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.
Distributed by APO Group on behalf of Energy Capital & Power.
JR Promotions Western Cape, a leading name in the promotions industry, continues to redefine the landscape of in-store brand activations. With a commitment to excellence and a passion for creating memorable brand experiences, the company stands at the forefront of below-the-line marketing, helping brands connect with consumers in meaningful and impactful ways. Pioneering In-Store Activations …
With no disciplinary hearing held, ten of the 13 officials have had their suspensions lifted
It is irrational to expect people who can’t afford food to have a smartphone and internet access
Fund members urged to get financial advice on pension fund withdrawals
With the President signing into law the Pension Funds Amendment Act (31 of 2024), National Treasury has urged fund members to seek trustworthy financial advice to consider the implications for withdrawals from the savings component.
“Fund members should also note that administration costs and tax at marginal rates will be deducted from such withdrawals. Members will lose out on all related future growth and the retirement benefit originally intended for those funds,” National Treasury said on Tuesday.
The signing into law of the Pension Funds Amendment Act ushers in the last part of the significant amendments required to implement the two-pot system to commence on 1 September 2024 after proclamation by the President.
The Pension Funds Amendment Act provides for certain amendments to the Pension Funds Act, 1956, the Post and Telecommunications-related Matters Act, 1958, the Transnet Pension Funds Act, 1990 and the Government Employees Pension Law, 1996, which are necessary to enable retirement funds, including public sector funds, to implement the two-pot reform.
READ | President Ramaphosa signs Pension Funds Amendment Bill into law
These changes follow the related amendments to the Income Tax Act, which are contained in the Revenue Laws Amendment Act (12 of 2024).
“The main intention of the two-pot system reform is to improve South Africa’s retirement outcomes for members at retirement through the preservation of a larger portion of the retirement savings.
“At the same time the reform allows some measured access in cases of financial distress without a member having to resign from employment.
“The new two-pot retirement system creates a more sustainable retirement fund system, while increasing flexibility to cater to the differing needs of members. The system will provide a welcomed relief mechanism for people in real crises to access emergency funds without resorting to loan sharks or having to quit their jobs to access their retirement savings, while ensuring a larger portion of those savings are preserved until retirement,” National Treasury said.
Retirement funds and trustees are now in the process of aligning their fund rules with the changes to the acts and should be communicating with fund members about these rule changes and processes to be followed for savings benefit withdrawal claims.
Fund rule amendments still need to be submitted to the Financial Sector Conduct Authority for approval before implementation.
“Most funds are set to implement the new split for contributions to the two new components (i.e. savings component and retirement component) on 1 September 2024, as planned.
“They will also calculate the once-off seeding capital value using the vested component (i.e. retirement savings accumulated before implementation date) on 31 August 2024, that will be available for transfer to the savings component and accessible to members from 1 September 2024.
“However, not all funds will likely be able to process withdrawal requests immediately on 1 September 2024, as the systems to do so and the mechanics to request such withdrawals will still be new or are being installed. Funds that are ready for such withdrawals will also need some time to process requests,” National Treasury said. - SAnews.gov.za
nosihle
Tue, 07/30/2024 - 09:12
In a nail-biting 2024 Ignition Group Polocrosse World Cup final on Sunday, South Africa narrowly beat reigning champions, Australia 29-28 – earning them a third World Cup title. Sunday’s final concluded a fantastic competition which ran from 17 to 28 July at the Durban Shongweni Club in the Valley of 1000 Hills. Spectators were kept …
After achieving the fastest 10km time of his career with a second-place finish at the iconic Absa RUN YOUR CITY DURBAN 10K on 7 July 2024, Kabelo Mulaudzi is confident in his chances of successfully defending his title at the Absa RUN YOUR CITY TSHWANE 10K on Sunday, 25 August. Mulaudzi’s confidence soared with his …
World faces era of new economic challenges
The world is entering an era of new economic challenges, even as the recent ones have yet to be overcome, says South African Reserve Bank (SARB) Governor Lesetja Kganyago.
“The global economy continues on a long recovery path from the pandemic. This path has been a troubled one, and despite better prospects in recent months, remains beset by risks and vulnerabilities built up during the pandemic.
“Inflation remains stubbornly high, and public debt levels globally are at record levels,” the Governor said on Tuesday.
Addressing the 104th annual Ordinary General Meeting of the SARB shareholders in Pretoria, Kganyago asserted that technological development carries both risks to cybersecurity and the hope of large and sustained boosts to global productivity.
“Inflation remains a major policy concern for central banks globally. Although global inflation declined from 8.7% in 2022 to 6.8% in 2023 and continues to ease in 2024, it remains high relative to the 2–3% inflation targets that many countries are trying to achieve.
“Restrictive monetary policy, along with the recovery in supply chains and other pandemic-related bottlenecks, has helped inflation to recede from its 2022 highs. However, global disinflation has slowed recently, as is well illustrated by consumer price inflation in the United States (US) still sitting at 3% relative to their 2% target,” Kganyago said.
He said the slow pace of disinflation reflects a pattern of lower imported inflation but higher services inflation across most economies.
“In some [economies], rising wages and sustained pent-up demand for services have been key factors. In emerging markets specifically, fiscal challenges and sustained currency depreciations have played more of a role.
“Policy commitment to reduce inflation back to targets has been strongly signalled around the globe, and central banks have generally been cautious in their approach to policy. Deepening geo-economic fragmentation, higher temperatures and other supply-related risks raise concerns about the long-term prospects for inflation, and considerable effort is going into reassessments of neutral real rate levels,” the Governor said.
While inflation remains higher than desired, global economic activity has proven to be more resilient than expected.
“Global growth surprised higher at 3.3% in 2023, despite considerable divergence in growth across individual economies. Generally, however, global growth rates are expected to remain below pre-pandemic trends. This reflects the impact of protectionist measures on global trade, relatively tight financial conditions as well as uncertainty of future policy trajectories,” Kganyago said.
Domestic real economy developments
Despite South Africa’s low economic growth, employment levels have recovered the 2.2 million jobs lost during the height of the pandemic.|
“As of the first quarter of this year, total employment surpassed its 2019 level. Nonetheless, job creation has been too slow and not enough to offset the growth in the labour force, leaving the unemployment rate elevated at 32.9% in the first quarter of this year,” the Governor said.
The South African economy slowed to 0.7% in 2023 from 1.9% in 2022, and remains well below growth in peer emerging markets.
“Load shedding and logistical challenges have been weighing heavily on economic activity, depressing the credit appetite of businesses and the spending of households.
“South Africa’s tailwind for growth coming from strong terms of trade continued to fade, despite still remaining at historically good levels. Exports also suffered over the past 12 months from energy and logistics challenges as much as price factors. Imports were also muted by logistics.
“As energy and logistics constraints continue to ease, the growth outlook will also improve. The domestic economy is expected to grow by 1.1% this year, rising to 1.7% by 2026, as both household spending and investment start to strengthen,” Kganyago said.
Domestic inflation dynamics
As with the global trend of moderating inflation, South Africa’s headline inflation decelerated over the past year, falling from 6.9% in 2022 to an average of 6% in 2023.
“These annual averages, however, hide the ongoing volatility in the underlying components of inflation, in turn demonstrating the risks and uncertainty marking the disinflation path.
“Since September of last year, headline inflation has been fluctuating between 5% and 6%, with frequent monthly setbacks coming from fuel, food and services prices.
“In February, core inflation rose by 0.4 percentage points to 5%, propelled sharply higher by medical insurance inflation. Encouragingly, as of June, core inflation has moved to 4.5%,” Kganyago said.
The SARB sees core inflation averaging 4.6% this year, from 4.8% last year. Inflation expectations eased in the first half of this year, but still remain well above the midpoint of the target band.
“While headline inflation came out between 5% and 6% for much of the past year, our current forecast shows it easing to 4.9% this year, pulled lower mainly by softening food and fuel inflation, and resting at the midpoint in 2025 and 2026.
“Even with some quantitative and qualitative adjustments to risk perceptions over time, the Monetary Policy Committee (MPC) has felt it appropriate to maintain the repurchase (repo) rate at 8.25% – a level set in May of 2023,” he said. - SAnews.gov.za
nosihle
Tue, 07/30/2024 - 14:14
It is time for the next body revolution brought to you by leading sports nutrition brand, Nutritional Performance Labs (NPL). That’s right, entries open on 29 July 2024 for BodyRev 7.0, the ultimate health and fitness challenge which runs for 12 weeks from 27 August 2024. By signing up, participants can shed unwanted body weight …
Webness, South Africa’s premier web design company, is renowned for its ability to deliver custom websites in an impressively short timeframe of just three days. This capability underscores Webness’s commitment to providing rapid, high-quality web design solutions tailored to meet the specific needs of businesses in today’s fast-paced digital landscape. Rapid Development for Modern Businesses …
Data from information and insights company TransUnion shows that South Africa’s car market is in flux. A growing number of households are opting for one multipurpose car instead of maintaining multiple cars, with many substituting their transport demands with ride-hailing services or using subscription services As a consequence, sales of both new and used cars …
Exactly one month after setting a new South African all-comers record and personal best at the Absa RUN YOUR CITY DURBAN 10K, Kenya’s Christine Nalimo Njoki will be aiming for an even more impressive performance when she competes in one of South Africa’s most iconic Women’s Month celebrations, the Totalsports Women’s Race in Durban, this …
The story of Credipple is one of innovation meeting a critical need. Founded by Kgololo Lekoma (CEO), Lethabo Sekhu (COO) and Sibusiso Manentsa (Founder) in 2017, Credipple bridges the gap between skilled professionals, and businesses seeking trustworthy digital talent. The inspiration behind the platform came from the founders witnessing their university peers struggling to access …
Pilot programme rolled out to help recipients of the Social Relief of Distress grant to verify their identity
This is one of five Safe Spaces run by the City of Cape Town
Introduction Warehouse storage is a crucial aspect of any business operation. In Johannesburg, the need for efficient and well-organised storage solutions is paramount due to the city’s bustling commerce and industry. This article explores the various aspects of warehouse storage in Johannesburg and how businesses can maximise their efficiency. The Importance of Warehouse Storage …
Mzansi’s most preferred noodle brand, MAGGI, as recognised by the Ask Afrika Icon Awards, is set to elevate South African kitchens with its latest campaign, “Cook the Difference!” Unveiled at an exclusive media luncheon on 25 July, VIP media guests experienced the brand’s magic and versatility. MAGGI showcased its potential to be both a complete …
Governments urged to prioritise testing, treatment and vaccinating against hepatitis
A liver performs over 500 vital functions every single day to keep us alive, that is the reason that the World Health Organisation (WHO) believes testing, treating and preventing viral hepatitis is so important.
On Sunday, the globe commemorated World Hepatitis Day and the WHO called on all governments to prioritise testing, treatment and vaccination to realise a hepatitis-free world by 2030.
The Department of Health said viral hepatitis is a preventable and manageable disease, which remains a silent and neglected cause of morbidity and mortality worldwide.
Hepatitis is an inflammation of the liver often caused by a virus. Viral hepatitis means there is a specific virus causing your liver to swell or become larger than normal.
World Hepatitis Day is observed each year on 28 July to educate the public about the disease and encourage people, health professionals, communities and governments to drive awareness and action to eliminate viral hepatitis.
“Viral hepatitis is responsible for an enormous health burden, mostly due to chronic hepatitis B and C infection,” the department explained.
According to the 2024 WHO Global Hepatitis Report, in 2022, an estimated 304 million people were living with hepatitis B and hepatitis C globally.
The department said viral hepatitis is the second leading infectious cause of death globally, with about 1.3 million deaths recorded annually around the world, including over 2 000 deaths recorded in South Africa.
This burden is further compounded by the lack of screening, access to care and treatment, inadequate disease surveillance, and human and financial resources.
Meanwhile, the department stated that people living with underlying conditions such as HIV are at a higher risk due to coinfection, which further exacerbates the burden of liver disease.
South Africa is a signatory to the WHO’s global hepatitis strategy endorsed by other Member States, which aims to reduce new hepatitis infections by 90% and deaths by 65% between 2016 and 2030.
The prevention of this infectious disease includes both pharmaceutical and non-pharmaceutical interventions such as vaccines, practising safer sex, good hygiene, avoid sharing needles, toothbrushes and razors.
The department is also advising people to avoid drinking water from known potentially unsafe sources and cooking food well to help prevent the spread of the disease.
While viral hepatitis is typically asymptomatic, the department said some signs may include fever, malaise, loss of appetite, diarrhoea, nausea, abdominal discomfort, dark-coloured urine and jaundice.
“In some cases, the virus can also cause a chronic liver infection or liver cancer, putting patients at a higher risk of death, unless they get treatment.”
The department has since developed National Guidelines for the Management of Viral Hepatitis as part of efforts to reduce morbidity and mortality in the country.
People, especially those experiencing any of the hepatitis symptoms, are urged to go for screening and testing for early diagnosis and treatment depending on the type of hepatitis.
In addition, those at higher risk of serious health complications if they contract hepatitis B and/or C need the vaccine, including all newborns and previously unvaccinated children and adolescents, people with more than one sex partner, key populations, and those infected with HIV and/or other sexually transmitted diseases. – SAnews.gov.za
Gabisile
Mon, 07/29/2024 - 10:11
By Fhulu Badugela, CEO of Multichoice Africa (www.MultiChoice.com)
As MultiChoice published its annual ESG report earlier this month, I was struck by the aptness of the term sometimes used in relation to such documents: integrated reporting. Integration is fundamental to any kind of environmental, social and governance (ESG) impact.
MultiChoice Group has had three decades to find that particular sweet spot, refining its formula of enriching lives, while transforming African entertainment and broader society.
The beauty of the approach can be seen in the way key business touchpoints dovetail with ESG principles.
By way of illustration, the MultiChoice commitment to hyperlocal storytelling has meant a need to create homegrown, locally relevant content. This in turn has led MultiChoice to create regional MultiChoice Talent Factory (MTF) academies in Nairobi, Lagos and Lusaka, training aspiring filmmakers.
Not only has this created a rich pipeline of authentic talent, it has built a vast library of local content. This fuels the ongoing success of MultiChoice as an entertainment platform, where Africa's people can see African creators telling African stories.
Social upliftment
In ESG parlance, this supports the social-development pillar. To date, 467 filmmakers have been trained by the MTF. These young people have gone on to work on hit African shows on regional channels across the continent.
In East Africa, graduates secured story development grants, gained acclaim at international film festivals and showcased their commitment to environmental consciousness by presenting at the Youth and Climate Action meeting.
In West Africa, Azeezah Sama, produced by a student from the class of 2023, was selected for prestigious film festivals such as the Toronto International Nollywood Film Festival. Africa Magic commissioned productions from three MTF alumni companies, generating employment opportunities and amplifying the programme's impact in the region.
Meanwhile, in Southern Africa, MTF alumni feature films have premiered on Zambezi Magic, and interns have contributed to more than 30 professional productions, including hit shows like Idols, Adulting, My Brother's Keeper, Champions, and Gen Zee.
Economic impact
Besides skills development, MultiChoice makes direct investments in job creation and economic empowerment for emerging economic sectors. The MultiChoice Enterprise Development Trust oversees two key initiatives aimed at fostering the growth of startups and small enterprises: the Innovation Fund and the Africa Accelerator programme.
To date, the MultiChoice Innovation Fund has supported 77 black-owned small businesses with at least 50% female-black ownership and disbursed R407 million in loans, grants and business development expenses. This has created 1 400 employment opportunities.
Last year, the MultiChoice Accelerator programme helped 11 entrepreneurs from South Africa to secure more than $17 million in investments from investors in the United Arab Emirates.
Also last year, the Enterprise Development Fund funded four new tech-related companies, including two owned by black women, to the tune of R26.74 million, creating 395 jobs.
Developmental governance
Integrated ESG principles mean that the crucial MultiChoice governance function must also have a developmental role, while still enabling the business generate value for all stakeholders.
That means ethical, developmental governance. The Group inculcates these principles in our people through mandatory training – anti-bribery, ethical conduct; and “better place to work” training on the MultiChoice Academy platform.
Another of the company's biggest governance focus areas is the fight against content piracy, which poses a significant threat to the business and the wider industry. With Partners Against Piracy (PAP), MultiChoice has signed Memorandums of Understanding with governments across Africa to combat broadcasting piracy.
The MOUs establish partnerships for capacity building, benchmarking, and experience sharing, as well as intellectual-property rights protection, training, and skills development. In addition, a multi-governmental workshop in mid-2024 will review piracy policies and actions, with an eye to amending cybercrime legislation.
Environmental awareness
Deeply conscious of how our operations impact the environment, MultiChoice takes direct steps to limit our emissions and energy efficiency – but always in ways that can be integrated into our ways of doing business.
We have taken proactive steps to enhance energy efficiency in our electricity consumption, air-conditioning systems, data centres, heating and ventilation. We have invested in green infrastructure, including installing light motion sensors within buildings, LEDs equipped with daylight harvesting capabilities, solar panels and energy-efficient inverter technology.
These initiatives have seen us reduce total Scope 1 and Scope 2 emissions to 67 675 tonnes of CO2 equivalent from 75 060 tonnes in 2023, a tangible move towards sustainability and responsible resource management through more eco-friendly operations.
We have managed to make these sustainability improvements in ways that continue to generate income for the group. The R10,7 billion we pay in taxes in 2024 underlines our integration into the continent's economy.
Ultimately, the proof of our ESG impact will be in our ability to continue operating sustainably, into the future, in a way that enriches lives for all the people we touch.
We are proud to have met this challenge successfully for the past three decades, and we are confident we will continue doing so for decades to come, by integrating our purpose – enriching lives – into our way of doing business.
Distributed by APO Group on behalf of MultiChoice Group.
Call for inclusion of young professionals in finding solutions to water challenges
The National Water and Sanitation Youth Indaba has thrust into the spotlight the inclusion of young professionals in research and innovation to improve the water sector.
The Department of Water and Sanitation, in conjunction with its entity in Limpopo, Lepelle Northern Water, hosted the Indaba under the theme: “Actively embracing the socio-economic gains of our democracy” last week.
Addressing the young professionals, Lepelle Northern Board Chairperson, Dr Nndweleni Mphephu, emphasised the significance of the youth’s active participation in research and innovation in the sector.
“As many might be aware of the challenges facing the water sector, which are increasingly being exacerbated by the impact of climate change, I urge you all to invest your brilliant young and sharp minds into research and to find long lasting solutions that could steer the sector to new heights,” Mphephu said.
The Department’s Chief Director responsible for Intergovernmental Relations, Sector Transformation and Provincial Governance, Petunia Ramunenyiwa emphasised the department’s commitment to the inclusion of young professionals, as a means to finding innovative solutions to address challenges faced by the sector.
“This Indaba is one of the programmes of the Department of Water and Sanitation that is very close to my heart, and it is by no means just a talk shop but a platform for engagement and exchange of knowledge and technical expertise that will improve the sector’s governance and transformation,” Ramunenyiwa said.
The indaba undertook discussions that provided opportunities for the exchange of knowledge and technical expertise aimed at improving the sector’s governance and transformation.
These included discussions on understanding national water and sanitation issues and government priorities, providing youth with information, opportunities, and technical resources available within the sector, as well as encouraging community involvement in the sector and establishing partnerships with the private sector, civil society and other stakeholders, among others.
To give a first-hand account of the operations of water testing and water treatment, the department and Lepelle Northern Water led a guided tour of the Ebenezer Water Treatment Plant, which mainly treats water abstracted from Ebenezer Dam and supplies to Polokwane Local Municipality and surrounding areas.
An excursion was also undertaken to the University of Limpopo’s water laboratory to explore the analytical methods used to conduct water quality analysis.
The laboratory is among the country's best and most advanced technologies, which use methods, including inductively coupled plasma to analyse heavy metals in water samples.
The National Water and Sanitation Youth Indaba was attended by more than 400 participants in the Water, Sanitation and Hygiene (WASH) sector from various backgrounds, including unemployed individuals, professionals, entrepreneurs, young professionals and civil society organisations.
The four-day Indaba was held in Polokwane, in Limpopo from 22-25 July 2024.
Among the issues discussed were the department’s youth strategy with a special focus on innovations and entrepreneurship, challenges and opportunities in South Africa's water and sanitation sector, South Africa's water issues in the global context, as well as education and career opportunities within the sector. – SAnews.gov.za
GabiK
Mon, 07/29/2024 - 10:24